Recent Accounting Concerns

Date: September 03, 2020
Subject: Recent Accounting Concerns
Recently Tidewater was made aware of some accounting concerns related to the August billing period and would like to offer information explaining the issues and corrective actions taken.
 
Tidewater was contacted by several owners reporting late fees applied to their accounts in error. Research revealed in a small number of instances (25) the payment was allocated to the roofing charge as opposed to the regular assessment, resulting in a computer generated late notice being mailed. This issue was immediately addressed, late fees removed and allocation adjusted ensuring are no future issues related to this.
 
Owners who regularly monitor their banking account online and/or on the portal may have noticed a delay in the deposit and application of the most recent payment related to the banking transition taking place. This small delay is related to the set-up of the new payment lockbox and integrations between the bank and the accounting software.  Tidewater has been working with all parties involved to address these unforseen issues. The software issues have been found and patched as of Wednesday evening, and all owner payments that have been received by the lockbox will be processed within the next 24-48 hours.   
 
If you received a notice of past due fees in August with a late fee, and you remitted your payment to the New York remittance address, please email [email protected] to request a waiver.  A Tidewater repesentative will assist you with your account.  
 
Tidewater wishes to assure all owners that all inquiries and concerns are thoroughly investigated and resolved in accord with all best practices and GAAP specifications and encourages any owner with a question or concern to contact us directly at 443-548-0191.  If you have any specific concerns regarding your personal account with Queens Landing, please reach out to our accounting department at [email protected]
 
 
Sincerely,
 

Jessica Ogle, CMCA

Director of Financial Management

 

Queen's Landing